Dollar East
Dollar East Exchange is a State Bank of Pakistan-licensed foreign exchange and remittance company operating 51 branches in 33 cities, serving overseas Pakistanis' beneficiaries, travelers, and general consumers with currency exchange, inbound/outbound remittances, and branchless banking services.
- Company typePrivate
- Founded1992
- HeadquartersLahore, Pakistan
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Dollar East does
Dollar East Exchange is a Pakistan-based, State Bank of Pakistan-licensed foreign exchange and remittance company operating since 1992 from its headquarters in Lahore. The company runs 51 branches across 33 cities nationwide, with the densest presence in Punjab (9 branches in Lahore alone). Its core product portfolio consists of four service lines: Currency Exchange (buying and selling major world currencies including USD, GBP, EUR, SAR, AED, AUD, CAD, KWD), Home Remittance (inward international transfers via Western Union, MoneyGram, Ria Money Transfer, and IME Remit), Outward Remittance (cash-to-cash, bank-account, and telegraphic transfers abroad), and Branchless Banking (bill payments, inland money transfers, and cash-in/cash-out via a 1Link integration). Auxiliary products include an online Currency Calculator on the corporate website and participation in the government-backed Sohni Dharti Remittance Program loyalty scheme.
The business model is purely transactional. Dollar East earns revenue from (a) FX spreads on currency buy/sell rates (e.g., USD buying at 278.5 PKR, selling at 280.5 PKR — a ~0.7% round-trip margin), (b) processing fees and commissions as an agent of the four MTO networks, and (c) fees from branchless banking and utility bill collection services. Pricing is not publicly disclosed at the transaction level; exchange rates displayed online are indicative and vary by branch and time. The go-to-market is branch-led direct-to-consumer with a 51-point physical distribution footprint, supplemented by partnerships with over ten Pakistani banks for ancillary services and with SNGPL for utility bill collections.
The company is privately held with Rs. 1.5 Billion authorized capital and Rs. 1.2 Billion paid-up capital, 11–50 employees, and a Board of Directors and executive team led by CEO Major (R) Muhammad Rizwan. Revenue is not publicly disclosed. Technology is operational rather than proprietary — branch-based POS/transactional terminals connected to global MTO switches and Pakistan's 1Link switch — with no disclosed AI/ML capabilities, no public API, and an Android mobile presence only via the third-party Sohni Dharti app rather than a Dollar East-issued app.
Dollar East firmographics
Firmographics- Name
- Dollar East
- Legal name
- Dollar East Exchange
- Website
- https://dollareast.com
- Company type
- Private
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Dollar East Exchange is a State Bank of Pakistan-licensed foreign exchange and remittance company operating 51 branches in 33 cities, serving overseas Pakistanis' beneficiaries, travelers, and general consumers with currency exchange, inbound/outbound remittances, and branchless banking services.
- Ownership category
- akta.pro rank
Dollar East industry classification
Industry- Product category
- Foreign Exchange and Remittance Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Remittances & Retail FX (Consumer Cross-Border) (FSABAAAK)
- akta.pro secondary industry
- Cross-Border Collections & Local Receiving (Pay-ins) (FSAMAIAI)
Keywords
Where Dollar East is headquartered
LocationHeadquarters
- HQ city
- Lahore
- HQ country
- Pakistan
- HQ region
- Asia
Offices31 records
Markets served
Dollar East business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Currency Exchange Margins: Revenue generated from the spread between buying and selling rates of foreign currencies. The company offers exchange services for multiple currencies including USD, GBP, EUR, SAR, AED, AUD, CAD, KWD, and more.
- Inward Remittance Services: Processing fees and commissions earned as an agent for Western Union, MoneyGram, Ria Money Transfer, and IME Remit. Beneficiaries receive money sent from abroad through Dollar East branches.
- Outward Remittance Services: Revenue from telegraphic transfers, cash-to-cash transfers, and bank account transfers to overseas destinations. Services include Western Union and MoneyGram for international transfers.
- Branchless Banking Services: Bill payment collection services and inland money transfers through 1Link partnership, providing utility bill collection and cash-in/cash-out services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Indicative exchange rates for various currency pairs |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Dollar East product offering
Product offeringCore offering
Dollar East Exchange is a Pakistan-based, State Bank of Pakistan-licensed foreign exchange and remittance company that buys and sells major world currencies and processes international money transfers. It operates as a leading agent for Western Union, MoneyGram, Ria Money Transfer, and IME Remit, processing both inward (home) remittances from overseas Pakistanis and outward remittances to bank accounts or as cash pickups abroad. It also delivers branchless banking services (utility bill payments, inland transfers, cash-in/cash-out) through the 1Link network, served via 51 physical branches across 33 Pakistani cities.
Product overview
Dollar East Exchange is a Pakistan-based financial services company operating as a foreign exchange and remittance service provider. Its core product portfolio consists of four main service lines: Currency Exchange (buying and selling major world currencies), Home Remittance (receiving inbound international money transfers), Outward Remittance (sending money abroad via multiple methods), and Branchless Banking (utility bill collection and mobile money services). These core services are delivered through partnerships with global money transfer networks — Western Union, MoneyGram, Ria Money Transfer, and IME Remit — and via a growing network of branches across Pakistan. The company also offers supplementary services including Telegraphic Transfer (TT) for large bank-to-bank transfers, and participates in the government-backed Sohni Dharti Remittance Program loyalty scheme. An online Currency Calculator is available on the website for indicative rate conversion.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Beneficiaries can receive payments within 15-20 minutes through Western Union, MoneyGram, and Ria Money Transfer
- +2 more outcomes
Companies that use Dollar East
Customer profileSegments4 records
Ideal customer profiles3 records
Dollar East technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature1 record
Dollar East partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core and minor.
- Western UnioncoreDollar East is a leading agent of Western Union, enabling beneficiaries to receive money sent from abroad through its branch network. The partnership covers both inward remittance (receiving payments) and outward remittance (sending money abroad) services.
- MoneyGramcoreDollar East has partnered with MoneyGram to offer international money transfer services. Customers can receive and send money through MoneyGram's global network spanning over 200 countries.
- Ria Money TransfercoreDollar East has partnered with Ria Money Transfer for inward remittance services. Ria operates in over 165 countries with more than 500,000 locations worldwide.
- IME RemitminorDollar East has partnered with IME Remit, a global remittance solutions provider, to facilitate seamless inward remittance payments in Pakistan through its branch network.
- 1LinkcoreDollar East has made arrangements with 1Link to offer branchless banking services including bill payment service, inland money transfer, and cash-in/cash-out in branchless accounts.
- Askari BankminorLocal banking partnership for enhanced financial services and payment solutions.
- United Bank Limited (UBL)minorLocal banking partnership for enhanced financial services and payment solutions.
- National Bank of Pakistan (NBP)minorLocal banking partnership for enhanced financial services and payment solutions.
- Allied Bank Limited (ABL)minorLocal banking partnership for enhanced financial services and payment solutions.
- Bank AlfalahminorLocal banking partnership for enhanced financial services and payment solutions.
- Bank of Punjab (BOP)minorLocal banking partnership for enhanced financial services and payment solutions.
- Bank IslamiminorLocal banking partnership for enhanced financial services and payment solutions.
- Faysal BankminorLocal banking partnership for enhanced financial services and payment solutions.
- MCB BankminorLocal banking partnership for enhanced financial services and payment solutions.
- Meezan BankminorLocal banking partnership for enhanced financial services and payment solutions.
- Soneri BankminorLocal banking partnership for enhanced financial services and payment solutions.
- SNGPL (Sui Northern Gas Pipelines Limited)minorPartnership for branchless banking services enabling customers to pay utility bills through Dollar East branches.
Scale indicators6 records
Recent moves4 records
Expansion highlights5 records
Dollar East competitors and assessment
Company assessmentDirect peers
- Al-Rahim Money Exchange: Pakistan-based SBP-licensed exchange company focused on home remittances and currency exchange. Competes head-to-head with Dollar East for the same overseas-Pakistani remittance flows and Western Union/MoneyGram agency volumes.
- Easy Pay Exchange: Pakistan-based exchange and remittance company offering currency exchange, home remittance, and outward remittance services under SBP license. Direct competitive overlap on the same customer segments and global MTO partnerships.
- Paracha International Exchange: Pakistan-licensed exchange company offering remittance and currency exchange services. Comparable in scale and regulatory positioning to Dollar East, with overlapping branch presence in major Pakistani cities.
- Wall Street Exchange (Private) Limited: Pakistan-based SBP-licensed exchange company offering currency exchange, inward/outward remittance, and branchless banking. Most direct competitor with overlapping branch network and the same Western Union, MoneyGram, and Ria agency partnerships across Pakistan.
- Habib Metro Exchange Company: SBP-licensed currency exchange and remittance company operating across Pakistan. Subsidiary of Habib Bank — directly comparable in product mix (FX, inward/outward remittance, branchless banking) and customer base.
Broad incumbents
- MoneyGram International: Global MTO whose agent network in Pakistan is materially fulfilled through Dollar East and similar exchange companies. Comparable as the upstream platform Dollar East's branch business depends on; competitive risk if MoneyGram pushes direct digital or bank-account pay-out.
- Western Union (global): Global money transfer operator and Dollar East's largest partner. In some corridors Western Union has begun direct-to-consumer digital initiatives, which could compete with or disintermediate agents like Dollar East in Pakistan.
- Ria Money Transfer: One of the world's largest remittance networks (165+ countries, 500,000+ locations). Comparable as another partner principal to Dollar East and as a global incumbent with direct-to-consumer capabilities.
- United Bank Limited (UBL): Major Pakistani bank with remittance, FX, and branchless banking offerings — both a partner of Dollar East and a competitor for the same retail remittance customers. Provides an alternate channel via UBL digital apps.
- Meezan Bank: Largest Islamic bank in Pakistan offering inward remittance, FX, and branchless banking — competing with Dollar East for both inbound remittance flows and FX customers while also being a listed partner bank.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Dollar East social profiles
Digital presenceDollar East financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dollar East leadership team
Management profileNumber of profiles
Profiles10 records
Dollar East funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dollar East M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dollar East
What does Dollar East do?
Dollar East Exchange is a Pakistan-based, State Bank of Pakistan-licensed foreign exchange and remittance company that buys and sells major world currencies and processes international money transfers. It operates as a leading agent for Western Union, MoneyGram, Ria Money Transfer, and IME Remit, processing both inward (home) remittances from overseas Pakistanis and outward remittances to bank accounts or as cash pickups abroad. It also delivers branchless banking services (utility bill payments, inland transfers, cash-in/cash-out) through the 1Link network, served via 51 physical branches across 33 Pakistani cities.
Is Dollar East a public or private company?
Dollar East is a private company. It is classified as unknown and is currently operating.
When was Dollar East founded?
Dollar East was founded in 1992. It employs 101 to 250 people.
Where is Dollar East based?
Dollar East is headquartered in Lahore, Pakistan, in the Asia region.
How does Dollar East make money?
Four revenue lines are on record. Currency Exchange Margins are the primary driver. The others are inward Remittance Services, outward Remittance Services and branchless Banking Services.
Who are Dollar East's main competitors?
Direct peers on record are Al-Rahim Money Exchange, Easy Pay Exchange, Paracha International Exchange, Wall Street Exchange (Private) Limited and Habib Metro Exchange Company. Broad incumbents are MoneyGram International, Western Union (global), Ria Money Transfer, United Bank Limited (UBL) and Meezan Bank.
Does Dollar East have an API?
No public API is recorded for Dollar East.
What industry is Dollar East in?
Dollar East's product category is Foreign Exchange and Remittance Services. Its primary akta.pro industry code is FSABAAAK, Remittances & Retail FX (Consumer Cross-Border), with a secondary code of FSAMAIAI, Cross-Border Collections & Local Receiving (Pay-ins). Its NAICS code is 522320 and its SIC code is 6199.